One year after President Obama's historic U.S.-Africa Leaders Summit, the U.S. still lags behind China and the E.U. in Africa investment and trade relations. To boost U.S competitiveness, Africa Business Portal will provide resources to help businesses tap into this fast-emerging economic opportunity that's expected to boom in the coming years.

The funding will enable Africabookings to expand its online travel services across sub-Saharan Africa, which already allows travelers to access thousands of lodges and hotels in 19 countries.